Posts by The Hanseatic
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School-born Startup Joins Google-Funded Accelerator to Reinvent Learning Discussions have been increasing in Lithuania about how artificial intelligence will change learning – but BBright is already doing it. The team founded just a few years ago is now helping thousands of school pupils in Lithuania to learn maths more efficiently, and the Elicėjus platform they…
Read MoreA return to arms Danske Bank resumes defence investments
Asset managers with Danske Bank, Denmark’s largest financial institution, may now place investors’ money in nearly all European firms working in the defence industry, after it removed 30 firms from its blacklist earlier this month, leaving only producers of the most controversial weapons out of bounds.
The decision comes amidst growing European concerns about whether it can protect itself from a Russian attack, should America not live up to its commitment as a member of Nato. It also comes as European countries, looking to build up their defences after years of neglect, are now making it easy for their militaries to spend—and giving them plenty of money to do so. Denmark, for example, is expected to increase its defence spending from the current 2% of GDP to perhaps 5% in the coming years. Meanwhile the European Commission in March said it was making €800 billion available for defence spending.
For investors, such measures provide moral backing to the interest they had already begun showing the defence industry. After years of favouring funds that made a virtue of shunning arms, investors, according to Danske Bank, have more than doubled the amount of money going into defence-related firms over the past two years.
Despite its about face, Danske Bank is keeping its restrictions on controversial weapons banned by international conventions, including cluster bombs, anti-personnel mines and biological and chemical weapons. Similarly, it says it will continue to offer investment options for those who prefer their capitalism with a streak of pacifism. All’s fair in investment and in war.
Read MoreCome back and stand by Bornholm’s home guard wants former members to rejoin
The home guard on Bornholm this week sent out letters to 250 of its former members, asking them to consider rejoining the volunteer force, which currently numbers 300. It is a mission that will not be hard to complete: concerns about Moscow’s next move after Ukraine has led to a surge in the number of home-guard members nationwide. Last year, the number of new volunteers increased 35% from the previous year, the most in over four decades.
More military spending will also help. Copenhagen has vastly increased its defence budget in recent years. Only a fraction of this will go to the home guard, but the money will be used directly on the types of things that matter most to soldiers: guns, body armour and sleeping bags.
For islanders, the big motivator is geography. Being far removed from Denmark proper and having been left to fend for itself in the past has left its mark on islanders, and their home guard unit can operate with a greater degree of autonomy than units elsewhere in Denmark. Some residents and military experts want the military to take it a step further and reactivate Bornholms Værn, a volunteer militia that had existed for 400 years until it was disbanded in 2000.
Prior to Russian invasion of Ukraine, the home guard was mostly tasked with helping civil authorities and the police. Today, support for the regular army is increasingly being added to those duties, and the local commander expects more missions of that sort in the years to come. To keep up, he must keep the home guard returning.
Read MoreIt’s good Baltic wood and life after Swedish timber
Covering some 8 million hectares, forested areas in Estonia, Latvia and Lithuania make up about half of the three countries’ land area in total. That is comparatively less than in Sweden, where its 28 million hectares account for more than two thirds of its land. Nevertheless, the Swedish forestry industry imports up to 40% of its timber from the Baltics.
Part of Swedish firms’ interest in Baltic forests stems from their productivity and their makeup. Latvia, for example, stands out for its high proportion of deciduous trees, such as birch, particularly compared with Sweden, where pine dominates. Baltic forests have something else going for them, too: they are expanding; in the past century, their area has increased by more than half.
In spite of that, the price of Baltic forestland has gone up. In 2000, a hectare of went for €500. Today, it gets €3,700. Much of the increase has been fuelled by Swedish forest companies buying up land. But, should their interest weaken (in January, Södra Skogsägarna, a Swedish firm that is the largest forest owner in the three Baltic countries, announced plans to divest its Baltic holdings), it need not result in a fall in prices.
Danske Bank, a Danish financial institution whose Swedish subsidiary follows the forestry industry, reckons that, unlike in Sweden and Finland, the price of Baltic forestland does not yet take into account factors like its potential for carbon sequestration, its suitability for solar arrays or wind turbines, or its recreational value. All of those could support further price increases, it concludes, even if the Swedes stop seeing Baltic forests solely for their trees.
Read MoreBornholm’s bright idea for charging cars has proved its potential
An experiment in Rønne, on Bornholm, that has seen three streetlights doubling as charging points for electric cars since last May is being wound down after demonstrating its potential.
To date, there have been over 500 charging sessions. That, according to Beof, the island’s power company, is enough for it to conclude that the idea of integrating charging points into urban infrastructure is viable.
Beof and Spirii, which installs and runs charging kit, have been running the year-long project with the permission of the island council. Its members must now decide whether to make charging points a permanent fixture on street lights. Beof’s advice is that they should, since it would make it easy to build-out a charging network, without having to add new infrastructure to an often-cluttered cityscape.
For councils elsewhere considering something similar, the use rate is a good argument in favour of proceeding, but Beof underscores the need for clear guidelines and healthy portion of foresight. Without them, the idea is likely to short-circuit.
Read MoreGerman gambit Seizing Russia’s shadow fleet
German customs authorities have confiscated the Eventin, a tanker linked to the Kremlin’s “shadow fleet”, along with its cargo of approximately 100,000 tons of crude oil. The ship was impounded in January and its seizure comes after the EU placed it on its sanctions list.
The seizure is a notable escalation in the enforcement of sanctions against Moscow’s attempts to get around restrictions on its oil trade. The “shadow fleet” of vessels flying flags other than the Russian is used to transport oil. It emerged shortly after Moscow’s unprovoked 2022 attack on Ukraine in response to Western sanctions against the Russian oil industry.
Recently the fleet’s role in wreaking havoc on subsea infrastructure has been getting a lot of attention. Environmentalists, for their part, fret that the ships are an oil spill waiting to happen; they are old, poorly kept and lack proper insurance. The Eventin was found floating adrift in January off the island of Rügen.
Germany’s seizure sends a message to Moscow and its cronies who help it to bypass sanctions. But Berlin must now carefully consider its next move: the confiscation order means that the vessel and its cargo now belong to the German state. Other countries in the Baltic will be keeping a close eye on what it does—and how the Kremlin reacts—to keep the shadow fleet in check.
Read MoreJohan Praetorius named Ports of Stockholm marketing manager
Ports of Stockholm has appointed Johan Praetorius to be its next cargo marketing manager.
With his extensive and solid experience and expertise in transport and logistics, Johan will strengthen Ports of Stockholm’s marketing and sales department, laying the groundwork for continued growth.
Johan’s most recent role was commercial manager for ro-ro shipping company Lakeway Link. He also has extensive experience working with container shipping from firms such as Hamburg Süd/Maersk and Hapag Lloyd. He has also held commercial roles with DHL.
Connect with Johan on LinkedIn
Read MoreNo time at the present Bornholm’s green industry estate on stand-by
Bornholm should table its proposed industry estate until Copenhagen decides whether it will go ahead with its plans to build the converter station for two off-shore wind farms that would power the facility, an island council committee says.
A vote will be put before the full council later this month, but Jacob Trøst, the mayor, believes the national government’s decision in January to wait until after the German federal election to make its final decision makes proceeding impractical.
It is hoped that Germany will purchase the majority of the 3 megawatts of electricity the wind farms would produce. The rest is expected to be sent to eastern Denmark, but Bornholm would like some of it to be used to power an industry estate that would act as a crucible for energy start-ups.
Island businesses want work on the industry estate to continue. Questions like where it would be placed and when it would come on-line may be unanswerable at the moment, but, argues Michael Almeborg, the chair of the local chapter of DI, that should not stop the council from lining up the firms who will want to hear the answers when the council finally has them.
Read MoreJacqueline Kristensen joins TASK Engineering
TASK Engineering continues to grow, adding an HR co-ordinator to its Bornholm organisation as its offshore wind activities expand.
Jacqueline’s role will be to optimise TASK Engineering’s HR structure in an effort to ensure that the the firm has a working environment that takes responsibility for its staff. She will help to create a support system for all the topics that matter to TASK Engineering employees.
Connect with Jacqueline on LinkedIn
Read MoreKertu-Liina Lehismäe appointed Mintos CMO
Mintos, the investment platform that enables people to earn regular passive income through diversified investments, has announced the appointment of Kertu-Liina Lehismäe as the latest addition to its senior leadership team.
Kertu-Liina brings a wealth of marketing experience. Most recently, she led all customer acquisition globally at N26, one of Europe’s leading on-line banks. Her proven track record in driving global marketing strategies and delivering growth will be instrumental in advancing Mintos’ mission of democratising investments, highlighting the importance of long-term regular income, and growing its customer base across the European continent.
In her role as CMO, Kertu-Liina will oversee all aspects of Mintos’ marketing and external communications, including customer acquisition, engagement, PR & communications, brand and more. She will be responsible for developing and executing innovative marketing campaigns to further raise awareness around Mintos and strengthen its position in the global investment space.
Connect with Kertu-Liina on LinkedIn
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